1849 Proof Seated Dollar--The Rarest Of All Seated Dollars From The 1840s

1849 $1 PR64 NGC. The proof 1849 Seated dollar is generally
considered the rarest proof from the 1840s, and is even scarcer
than the well-known 1841 and 1843. Since 1992 only 10 coins have
appeared in major public auctions, and five of those pieces have
been in a Heritage sale. No explanation has been posited for the
absolute scarcity of this issue, but it is known that proof coins,
in general, hit a low point in production from 1849 through 1853.
No proof sets of this date are known, and according to Walter
Breen, there is no record of any having been made. Only 8-12 proof
dollars are believed to have been struck, and of that number some
5-8 separate examples are believed known today. The population data
from the two major services is somewhat misleading as 14 pieces
show to have been certified. Of course, a fairly high percentage of
those 14 coins are resubmissions, as this issue is known to be much
rarer than the stated combined populations.
Proofs of this date show a peculiar and distinctive imperfection on
the 4 in the date. One other diagnostic is the presence of die rust
below and to the left of the 1 in the date, near the border. We do
not see that on this particular coin; however, what we do see is
what appears to be several spikes that protrude from the denticles
that seem to be short marks from a graver. The reverse is a
non-event, with the stock 1840-1850 proof reverse die used here as
well as on earlier dates from this decade. The coin overall has a
few light hairlines, as one would expect, with an overlay of
irregular golden-brown and blue toning. The fields are deeply
reflective, also as one would expect, with almost complete striking
definition on the design elements.From The Dr. John L. Pellegrini Collection of Liberty Seated
Dollars.(#6990)(Registry
values: N10218) (NGC ID# 24ZZ, PCGS# 6990)